18048. National Bank (Holdenville, OK)

View Charter #5735 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5735
Charter Number
5735
Start Date
June 1, 1904*
Location
Holdenville, Oklahoma (35.080, -96.399)

Metadata

Model
gpt-5-mini
Short Digest
2b242150

Response Measures

None

Receivership Details

Depositor recovery rate
27.0%
Date receivership started
1904-03-23
Date receivership terminated
1915-04-29
OCC cause of failure
Excessive lending
Share of assets assessed as good
19.9%
Share of assets assessed as doubtful
54.1%
Share of assets assessed as worthless
25.9%

Description

The National Bank of Holdenville suspended in 1904 and thereafter was defunct with a receiver active and criminal indictments for misappropriation against officers. Articles mention suspension (March–June 1904, dates vary by report) and subsequent receivership and sale of bank building in 1905. No article describes a depositor run prior to suspension; failures and criminal misappropriation drove closure.

Events (5)
1. March 7, 1901 Chartered
Source
historical_nic
2. March 23, 1904 Receivership
Source
historical_nic
3. June 1, 1904* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank officers alleged to have misappropriated funds; indictments and arrests of vice-president, directors, and ex-president; insolvency following mismanagement/illegal loans.
Newspaper Excerpt
The national bank at Holdenville suspended last June.
Source
newspapers
4. October 1, 1904* Receivership
Newspaper Excerpt
Receiver Willoughby of the defunct Capitol National Bank ... began suits ... claiming loans made by the defunct bank at Holdenville; Receiver Willoughby (receiver for both of the failed banks) attended trials and prosecutions for the Holdenville failure.
Source
newspapers
5. March 28, 1905 Other
Newspaper Excerpt
A deal was closed ... the American National bank was the purchaser of the stone building ... This is the building where the National Bank of Holdenville started in business ... the building was the property of the defunct national bank and purchased from Receiver Willoughby.
Source
newspapers

Newspaper Articles (10)
1. September 1, 1904 The Muskogee Cimeter Muskogee, OK
Article from The Muskogee Cimeter, September 1, 1904

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Article Text

SUITS To RECOVER CATTLE Litigation Growing Out of Capitol National Bank Failure GUTHRIE: Receiver Willoughby of the defunct Capitol National Bank here, has begun suits at Wewoka, against R. A. McFarland, cashier of the defunct National Bank, at Holdenville, (a sitser bank of the Capitol National), and also against Mrs. Smith, to recover the possession of 700 head of cattle, covered by an alleged mortgage of $15,000, which amount of money, according to Mr. Willoughby, was loaned on the cattle by the defunct bank at Holdenville. The results are replevin suits. Mr. Willoughby claims to have gone to Holdenville and vicinity to take possession of the cattle, but could not find them; consequently he began the suits. There is also a suit in court between the receiver of the Capitol National here and the Miners' Bank of Joplin, Mo., relative to 150 heads of steers, which the defendant has in the yards at Holdenville, but upon which Receiver Willoughby claims to have a prior claim, stating the bank had loaned money on the cattle. Capitol National conditions are no nearer solved than for the past several months and there is nothing as yet to indicate when there will be any settlement with the depositors.

2. October 13, 1904 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, October 13, 1904

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Article Text

UNABLE TO GIVE BOND? Ex-Vice President of National Bank at Holdenville Under Arrest for Misappropriation of Funds. / Muskogee, I. T., Oct. 11.-R. M. McFarland, vice president of the defunct national bank at Holdenville, was arrested here and placed under $50,000 bond on a charge of alleged misappropriaton of the funds of the bank. He has failed to make the bond and may go to jail. He heard of the indictment and came prepared to give $5,000 bond. The national bank at Holdenville suspended last June. C. E. Billingsley was president of the bank, also the Capitol national, of Guthrie, Ok., which failed.

3. October 14, 1904 The Chickasha Daily Express Chickasha, OK
Article from The Chickasha Daily Express, October 14, 1904

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Article Text

DIRECTORS ARE HELD Three More Arrests in the Holdenville Bank Failure Case. Muskogee, Oct. 13.-This afternoon C. B. Schaff, E. Autrey and J. D. Boxley, directors and stockholders in the National Bank at Holdenville, suspended last June, were arrested and brought to this city. Schaff was placed under a $20,000 bond and each of the others were placed under a $10,000 bond. They are charged with obtainiug money under false pretenses and disposing of mortgaged property. All three made their bonds, McFarland, the vice president of the bank, arrested Monday, filed a $50,000 bond. It is alleged that the men arrested today assisted McFarland in securing loans on chattels that were absolutely worthless, It is understood here today that indictnents were returned against the directors of the bank and some of the stockholders, It is expected that more arrests will follow. A report from Holdenville, however, is to the effect that some of the parties who are thought to be in. dicted have skipped out.

4. October 21, 1904 The Tupelo Journal Tupelo, MS
Article from The Tupelo Journal, October 21, 1904

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Article Text

the World in The German Village hotel the world's fair burned. The United States brig ] ewas launched at Portsmouth. rAssassinations of the Greel 1. the Bulgarians are reported da ed On October 12 it was rep a that a great battle was-raging o, Mukden. Judge Parker addressed the of Beach democratic club at E C. October 15. to Ex-Gov. W. Murray Crane appointed United States senat in succeed Geo. F. Hoar of Mass he setts. rThe imported stallion Medd re the stud of the late William Whitney was sold to Matthew of bett for $51,000. d, Kuropatkin issued an order as reinforcements are arriving the time has come to advance as compel the Japs to do Russia's In a pistol duel near Hou I Tex., Herman Ottman was id and the father of Henry Schi es who came between the duelists lost his life. At Lexington, Ky., in a si statement, Judge James H. A as gan declares his belief in his re innocence, and declares that he for a moment has he considere el with the attempted poisoning o in Mulligan family. 3. The crew of the extra fi atrain which collided with the souri Pacific world's fair tra Warrensburg, Mo., resulting i a death of twenty-nine persons rheld responsible for the disast )1 the coroner's jury. he The Barcelona, Spain, police arrested three anarchists at d Nueva Ygeltru. It is alleged S. they have confessed to plottin ed April last, the assassination st King Alfonso, who was in Ba na in the early part of that m nC. B. Schaff, E. A. Autrey rJ. D. Bosley, directors and d holders in the National banl Holdenville, suspended last le were arrested charged with ol ing money under false nret in and disposing of mortgaged pr ty. eE. C. Zeigler and L. A. H: IS, brakemen on the freight train ecrashed into a Missouri I b. train near Warrensburg, Mo., A. arrested on warrants charging er with stealing $37 from the bo a fellow brakeman named S se who was killed. D Fifteen deaths within eight se in the neighborhood known as : en er' Farm, on the west side, n York, have started an investig he by the police and coroner's of a Coroner Scholer says that 1r, deaths were caused by impure nor. na The signing of the Francoish agreements marks an impo step toward the realization of French ambition of a West Af y. ht empire, stretching from the F Soudan to the Mediterranean Atlantic. This will embrace re enormous tract of territory, g France the largest area in A rSix employes of the Grand I in railroad were suffocated by coa en in the St. Clair tunnel, which m under the St. Clair river from Huron to Sarnia, Ont. A in train broke in two while pa ar through the tunnel and three o train crew were suffocated to part of the train lay stalled i tunnel. A bill has been prepared for at mission to congress increasing duty upon rice from $1.20 t per kilogram. If the bill is p ro it is expected that the result be to give entrance to Cuba

5. January 5, 1905 Baxter Springs News Baxter Springs, KS
Article from Baxter Springs News, January 5, 1905

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Article Text

Business Failures Jan. 14-Auburn (Ind.) Farmers' bank. 16-Mt. Ayr (la.) Citizens' bank; $450,000. 22-Cleveland (0.) Produce Exchange bank and branches at Belford, Hudson and Defiance. 23-Elkhart (Ind.) Nat. bank. 30-New York, A. B. Baxter & Co., cotton brokers; $2,000,000. Feb. 2-New Orleans, Kirby Lumber Co. and Houston Oil Co Clarksburg (W. Va.) Traders' Nat. bank. 9-McGruder (Tex.) Citizens' Nat. bank. 10-New York Equitable Nat. bank Bank of Dunn, N. C. 11-Syracuse (N. Y.) Exchange Nat. bank; $500,000. 15-Pella (Ia.) Savings bank. 28-Opelika (Ala.) bank; $150,000 Tanton (Mass.) bank; $600,000. Mar. 2-Le Sueur (Minn.) bank; $95,000. 11-Garden Grove and Coin (la.) banks. 18-Daniel Sully, New York cotton king; $17,000,000. 21-Lonaconing (Md.) Savings bank. 22-Riverside (Cal.) bank E. O. Miller, banker, Providence, la National bank of Holdenville, Ind. T., suspends operations. 31-Union Trust, Boston: $1,600,000 Federal Trust. Cleveland: $1,000,000. Apr. 4-Capital Nat. bank, Guthrie, Okla.; $1,033,000 W. B. Mack, New York. 5-Citizens' bank. McLeod. Okla Akron (0.) Savings bank Chicago Women's Business club. 6-Wanzer & Co., Chicago grain merchants. Dow City (la.) Exchange bank Buck Grove (Ia.) bank. 18-McCoy's bank. Rensselaer, Ind. May 12-Farmers' State bank, Nardin, Okla. 24-First national bank of Cape May, N. J., closed by special order. Jul. 27-First Nat. bank, Saratoga, N. Y Grinnel (Ia.) First Nat. bank. 28-Mauston (Wis.) bank. Oct. 11-Bank of Plainfield, Wis., closed by state commissioner. Nov. 11-Federal Stock and Grain Co., Boston, assigns, liabilities $150,000. 17-Because of run, Berlin, Wis., bank closes. 23-Janney Co., Ottumwa, Ia., goes to receiver. 25-Davenport, Wash., national bank declared insolvent. 28-Gen. Coxey. of Mount Vernon, O., bankrupt. Liabilities, $287,000. Dec. 8-C. H. Slack & Co., prominent Chicago grocers. Liabilities, $167,000; assets, $100.000. 20-First national bank, Conneaut, and Marine bank, Conneaut Harbor, O., suspend. 22-Dedham savings bank, Dedham, Ia., closed.

6. January 5, 1905 Iron County Register Ironton, MO
Article from Iron County Register, January 5, 1905

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Article Text

Business Failures Jan. 14-Auburn (Ind.) Farmers' bank. 16-Mt. Ayr (la.) Citizens' bank; $450,000. 22-Cleveland (0.) Produce Exchange bank and branches at Belford, Hudson and Defiance. 23-Elkhart (Ind.) Nat. bank. 80-New York, A. B. Baxter & Co., cotton brokers; $2,000,000. Feb. 2-New Orleans, Kirby Lumber Co. and Houston Oil Co. Clarksburg (W. Va.) Traders' Nat, bank. 9--McGruder (Tex.) Citizens' Nat. bank. 10-New York Equitable Nat. bank Bank of Dunn, N. C. 11-Syracuse (N. Y.) Exchange Nat. bank; $500,000. 15-Pella (Ia.) Savings bank. 28-Opelika (Ala.) bank; $150,000 Tanton (Mass.) bank; $600,000. Mar. 2-Le Sueur (Minn.) bank; $95,000. 11-Garden Grove and Coin (Ia.) banks. 18-Daniel Sully, New York cotton king; $17,000,000. 2i-Lonaconing (Md.) Savings bank. 22-Riverside (Cal.) bank....E. O. Miller, banker, Providence, la National bank of Holdenville, Ind. T., suspends operations. 81-Union Trust, Boston: $1,600,000...Federal Trust. Cleveland; $1,000,000.

7. January 6, 1905 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, January 6, 1905

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Article Text

Business Failures Jan. 14-Auburn (Ind.) Farmers' bank. 16-Mt. Ayr (la.) Citizens' bank; $450,000. 22-Cleveland (0.) Produce Exchange bank and branches at Belford, Hudson and Defiance. 23-Elkhart (Ind.) Nat. bank. 30-New York, A. B. Baxter & Co., cotton brokers; $2,000,000. Feb. 2-New Orleans, Kirby Lumber Co. and Houston Oil Co. Clarksburg (W. Va.) Traders' Nat. bank. 9-McGruder (Tex.) Citizens' Nat. bank. 10-New York Equitable Nat. bank Bank of Dunn, N. C. 11-Syracuse (N. Y.) Exchange Nat. bank; $500,000. 15-Pella (Ia.) Savings bank. 28-Opelika (Ala.) bank; $150,000 Tanton (Mass.) bank; $600,000. Mar. 2-Le Sueur (Minn.) bank; $95,000. 11-Garden Grove and Coin (Ia.) banks. 18-Daniel Sully, New York cotton king; $17,000,000. 21-Lonaconing (Md.) Savings bank. 22-Riverside (Cal.) bank....E. O. Miller, banker, Providence, Ia National bank of Holdenville, Ind. T., suspends operaHons. B1-Union Trust, Boston; $1,600,000. Federal Trust, Cleveland; $1,000,000. Apr. 4-Capital Nat. bank, Guthrie, Okla.; $1,033,000.... W. B. Mack, New York.

8. January 6, 1905 Middlebury Register Middlebury, VT
Article from Middlebury Register, January 6, 1905

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Article Text

Business Failures Jan. 11-Auburn (Ind.) Farmers' bank. 16-Mt. Ayr (la.) Citizens' bank; $450,000. 22-Cleveland (O.) Produce Exchange bank and branches at Belford, Hudson and Defiance. 23-Elkhart (Ind.) Nat. bank. BO-New York, A. B. Baxter & Co., cotton brokers; $2,000,000. Feb. 2-New Orleans, Kirby Lumber Co. and Houston Oil Co. Clarksburg (W. Va.) Traders' Nat. bank. 9-McGruder (Tex.) Citizens' Nat. bank. 10-New York Equitable Nat. bank Bank of Dunn, N. C. 11-Syracuse (N. Y.) Exchange Nat. bank; $500,000. 15-Pella (Ia.) Savings bank. 28-Opelika (Ala.) bank; $150,000 Tanton (Mass.) bank: $600,000. Mar. 2-Le Sueur (Minn.) bank; $95,000. 11-Garden Grove and Coin (Ia.) banks. 18-Daniel Sully, New York cotton king; $17,000,000. 21-Lonaconing (Md.) Savings bank. 22-Riverside (Cal.) bank E. O Miller, banker, Providence, Ia National bank of Holdenville, Ind. T., suspends operations. 81-Union Trust, Boston: $1,600,000 Federal Trust, Cleveland: $1,000,000. Apr. 4-Capital Nat. bank, Guthrie, Okla.; $1,033,000 W. B. Mack, New York.

9. March 28, 1905 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, March 28, 1905

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BOUGHT BANK BUILDING. American National Bank Closed Deal With Wilioughby-Price $2,500. Holdenville, 1. T., March 28.-A deal Was closed last Faturday whereby the American National bank was the pur chaser of the stone building on Cedar street, adjacent to Ewing Bros.; consid cration, $2,500. This is the building where the National Bank of Holdenville scarted in business and enjoyed its early sucresses. The building was the propenty of the defunct national bank and PRR purchased from Receiver Willoughby. The American National expects to be bi its new home within thirty days. A complete new set of furniture and fixtures has been ordered and will be placed as soon 08 possession can be had. It will no the swellest in the city, 80 say the officers of the bank. This bank has steadily grown In popular favor since its reorganization. It was nationalized February 23, and is regarded as one of the coming financial concerns of this portion or the territory.

10. April 15, 1905 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, April 15, 1905

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JURY DIDN'T DECIDE Indian Territory LostinCase Against Holdenville Bank Vice-President. With a hung jury, eleven for acquittal and one for conviction, one of the most interesting cases ever fought to a finish in the courts of the Indian Perritory was brought to a close in the federal court for the Western judicial district of the Indian Territory, sitting at Wewoka yesterday morning. The case of the United States vs. R. M. McFarlan, ex-vice president of the defunct national bank of Holdenville, the suspension of which in March, 1904, was closely followed by the failure of the Capitol National bank of Guthrie for a million and a half dollars, was the test case of the numerous indictments which followed the failure of the national bank of Holdenville. Mr. McFailan was charged in the indictment with misappropriating $3,947.68 of the bank's funds, and Myron R. Sturtevant, national bank examiner, J. A. Willoughby, receiver for both of the failed banks, W. A. Pollock, assistant to Mr. Willoughby at Holdenville and ex-cashier of the bank, together with Charles E. Billingsley, expresident of both banks and ten times inaicted in the federal courts of Oklahoma, were in attendance to assist District Atterneys Mellette and Robertson in the prosecution of the case.